China | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their total costs of production. Development relevance: Accounting for the contribution of natural resources to economic output is important in building an analytical framework for sustainable development. In some countries earnings from natural resources, especially from fossil fuels and minerals, account for a sizable share of GDP, and much of these earnings come in the form of economic rents - revenues above the cost of extracting the resources. Natural resources give rise to economic rents because they are not produced. For produced goods and services competitive forces expand supply until economic profits are driven to zero, but natural resources in fixed supply often command returns well in excess of their cost of production. Rents from nonrenewable resources - fossil fuels and minerals - as well as rents from overharvesting of forests indicate the liquidation of a country's capital stock. When countries use such rents to support current consumption rather than to invest in new capital to replace what is being used up, they are, in effect, borrowing against their future. Statistical concept and methodology: The estimates of natural resources rents are calculated as the difference between the price of a commodity and the average cost of producing it. This is done by estimating the price of units of specific commodities and subtracting estimates of average unit costs of extraction or harvesting costs. These unit rents are then multiplied by the physical quantities countries extract or harvest to determine the rents for each commodity as a share of gross domestic product (GDP).
Publisher
The World Bank
Origin
People's Republic of China
Records
63
Source
China | Coal rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.07453892
1972 0.0691536
1973 0.07707423
1974 0.71100921
1975 2.69280693
1976 3.03115205
1977 3.08113279
1978 3.33590822
1979 2.69650762
1980 4.55030381
1981 7.95333966
1982 8.72549856
1983 4.38935293
1984 2.98496213
1985 3.0474844
1986 1.5866362
1987 0.19674236
1988 0.91456903
1989 1.47842452
1990 1.70523866
1991 1.34805202
1992 0.69920866
1993 0.14265594
1994 0.0649779
1995 0.45573591
1996 0.12866082
1997 0.08478314
1998 0.14993961
1999 0.07118702
2000 0.14638668
2001 0.80189606
2002 0.26354285
2003 0.22000741
2004 2.48180872
2005 1.84458903
2006 1.84347108
2007 2.10209759
2008 4.95292743
2009 1.70995201
2010 2.74101073
2011 3.53117368
2012 1.7783732
2013 1.08227721
2014 0.79512972
2015 0.40463023
2016 0.41314047
2017 0.53771676
2018 0.58260239
2019 0.44811705
2020 0.35955841
2021 0.60756889
2022

China | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their total costs of production. Development relevance: Accounting for the contribution of natural resources to economic output is important in building an analytical framework for sustainable development. In some countries earnings from natural resources, especially from fossil fuels and minerals, account for a sizable share of GDP, and much of these earnings come in the form of economic rents - revenues above the cost of extracting the resources. Natural resources give rise to economic rents because they are not produced. For produced goods and services competitive forces expand supply until economic profits are driven to zero, but natural resources in fixed supply often command returns well in excess of their cost of production. Rents from nonrenewable resources - fossil fuels and minerals - as well as rents from overharvesting of forests indicate the liquidation of a country's capital stock. When countries use such rents to support current consumption rather than to invest in new capital to replace what is being used up, they are, in effect, borrowing against their future. Statistical concept and methodology: The estimates of natural resources rents are calculated as the difference between the price of a commodity and the average cost of producing it. This is done by estimating the price of units of specific commodities and subtracting estimates of average unit costs of extraction or harvesting costs. These unit rents are then multiplied by the physical quantities countries extract or harvest to determine the rents for each commodity as a share of gross domestic product (GDP).
Publisher
The World Bank
Origin
People's Republic of China
Records
63
Source